« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  Pact with Luxembourg to avoid double taxation okayed... FinMin notifies rules for foreign currency exchangeable... » Durable makers for lower indirect taxes February, 19th 2008 The consumer durables industry has asked for lower indirect taxes and cut in Customs duty on inputs in the forthcoming Budget, as it seeks to safeguard its profitability against any increase in cheaper imports of finished goods.   The industry has called for reduction in value-added tax (VAT), abolition of central sales tax and cut in excise duty.   In 2007, all categories recorded a double-digit growth. This year, we expect reduction in VAT and incentives to bring the sector at par with the IT industry. Even reduction in import and excise duty will help in fetching better margins and provide products to the consumers at a cheaper rate, Haier India Director Pranay Dhabai said.   The industry has asked the government that non-IT products like consumer electronics and entertainment should be treated at par with the IT industry regarding indirect taxes.   Industry players have sought incentives for the electronic hardware sector. The difference between IT and non-IT products is getting blurred, as one can view the TV programmes on personal computer and mobile phone. Therefore, it is requested that IT and non-IT products be treated at par with regards to indirect taxes, Mirc Electronics Chairman and Managing Director G L Mirchandani said.